Solar Crowdfunding Platform SunFunder Join’s Power Africa’s Beyond the Grid
Monday, June 16, 2014
The US Government, under the aegis of the Obama administration, has formally launched Power Africa to increase energy access to those in need in sub-Saharan Africa. SunFunder is one of the founding partners of the initiative and joins an august group that includes another solar crowdfunding platform Mosaic.
Over an initial five year period, Beyond the Grid is expected to leverage partnerships with 27 investors and practitioners committing to invest over $1 billion into off-grid and small scale solutions for this underserved market. These private sector commitments will help Power Africa meet and exceed its commitment to provide access to 20 million new connections for households and commercial entities, providing electricity to millions of households in sub-Saharan Africa.
Off-grid and small scale energy solutions that generate electricity closer to end users will also bolster productive uses of energy and income generation. By partnering with investors, practitioners, and donors, Beyond the Grid will mobilize new resources, technologies, and expertise to address access to electricity issues in sub-Saharan Africa.